Doha: Mannai Corporation QPSC (Qatar Exchange: MCCS) yesterday announced its financial results for the year ended 31st December 2022.
The Group revenue for the year was QR5.3bn, a growth of 10 percent on a like-for-like basis as compared to QR4.8bn last year, excluding discontinued operations, mainly driven by growth in its Information and Communication Technology business in Qatar.
Group Gross profit for the year increased to QR865m, a growth of 8 percent on a like-for-like basis as compared to QR800m last year, excluding discontinued operations.
Group earnings before interest and tax, excluding one-off impairment provisions, increased to QR676m, representing a 31 percent increase compared to last year.
Finance costs for the year increased by QR35m, an overall increase of 15 percent over last year, due to the interest rate increases in prime lending rates throughout the year and in particular during the second half of 2022.
Group net profit for the year was QR202m and the earnings-per-share for the year ended were QR0.44.
